China’s May Retail Sales and Industrial Output increase but miss estimates

Dhwani Mehta FXStreet

According to the latest data published by the National Bureau of Statistics (NBS) on Thursday, China’s May Retail Sales YoY, rose 12.7% vs. 13.6% expected and 18.4% previous while the country’s Industrial Production came in at 3.5% YoY vs. 3.6% estimated and 5.6% prior.

Meanwhile, the Fixed Asset Investment increased 4.0% YTD YoY in May vs 4.4% expected and 4.7% last.

Additional takeaways

China Jan-May private sector fixed-asset investment -0.1% YoY.

China Jan-May infrastructure investment +7.5% YoY.

Market reaction

The Australian Dollar is showing resilience to the downbeat Chinese data release, as AUD/USD is keeping its recovery momentum intact. The AUD/USD pair is losing 0.06% on the day to trade at 0.6790, as of writing.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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